payday loan collectors
Date: Tue, 09/01/2009 - 10:02
I had one call me at 7.30am at my work and threatened to have me arrested. He told me i would have to arrange $8000 in bail to get out of jail once i was arrested. He said he was going to contact my employer and demand payment from them. Are these guys for real??
He really got nasty with me when i told them that this was a civil matter and not a criminal matter.
I eventually just hung up on him as I could hardly understand his indian accent.
What should I do if they do contact my employer?
h
pay day collectors
I am not sure what is policy and what is the law, but I can tell you that it is illegal to make threats that are not company policy. It is also illegal to give any information about your debt to a third party. If I said that to my former customers I would have lost my job. Pay day lenders are not going to take you to jail. You would have signed an arbitration agreement at the time of your loan. That states that if you or the lender have any disputes with eachother it will be settled in arbitration. I believe this is a last resort for them because it is costly. We were told by our supervisors that we didn't go to arbitration because it was not worth it for the amount of money the customers usually owed. That doesn't mean that is always the case. On this site under the do it yourself link it talks about a debt validation letter. They have to prove you owe the money, but if you have your pay off receipts it will help. Good luck.
